NLC India Limited (NLCIL) has signed a Joint Venture agreement with National Aluminium Company Limited (NALCO) for development of 1,080 (4X270) MW coal-based Captive Thermal Power Plant at Angul in Odisha.

According to NLCIL, the Joint Venture agreement was signed by representatives of NLCIL and NALCO in the presence of Union Minister for Coal and Mines G. Kishan Reddy.

The Joint Venture company will be jointly promoted by NLCIL and NALCO with an equal equity participation of 50:50. The JV will develop, finance, construct, own and operate the 1,080 MW captive thermal power plant, ensuring a reliable, long-term power supply to support the expansion project.